COBOL: Calculation of compensation on the decision of the Stockholm arbitration in the dispute with “Gazprom” will take 2-3 months

Head of the NJSC “Naftogaz of Ukraine” Andrey KOBOLEV predicts that the amount of compensation payable under a separate decision of the Tribunal in the Arbitration Institute of Stockholm chamber of Commerce for the dispute “Naftogaz of Ukraine” and PJSC “Gazprom” (Russia), will take 2-3 months.

“We were able to revise the price since 2014 this means that for the entire volume of gas that “Naftogaz” bought from the Russian “Gazprom” from this period of time, Gazprom will have to compensate us a certain amount. The final payment of compensation in both directions is, according to my estimates, approximately 2-3 months,” he said in the air of “1+1”.

This KOBOLEV added that the first decision concerned the case of the supply of gas, and now pending the decision on the dispute on gas transit, which according to schedule should be until the end of June, however, according to the head of “Naftogaz”, the decision can be rendered later.

He also noted that if “Gazprom” will refuse to implement the decision of the Stockholm arbitration, it will be unprecedented.

Besides, according to A. KOBOLEV, Gazprom has assets abroad and through the courts he should be arrested.

As reported, the NJSC “Naftogaz of Ukraine” in may 31 received a separate decision of the Stockholm Tribunal in the proceedings against “Gazprom” on gas supply contract. The Stockholm Tribunal has satisfied the claim “Naftogaz” on the revision of prices in the gas supply contract with Gazprom, taking into account market conditions, and abolished the requirement “Gazprom” to “Naftogaz of Ukraine” under the “take or pay” and fully lifted the ban on re-export by Ukraine of gas.